shmj 0 Report post Posted April 18, 2007 The situation we have here is we currently own a HDB flat.& the appt of my 2nd appt has been postponed to a later date as we couldn't managed to sell off the flat.If I were to get the keys on my 2nd appt, HDB will start deducting the installment right?Would I then be paying the installment for both my old flat & the new flat?'cos upon 2nd appt, HDB will deduct all the money in my dh & my acc. Then there will be nothing left...From our mthly salary contribution, we hv slightly more than what will be deducted from the mthly installment for the new flat.But def not enough if HDB is gonna deduct for the old flat that hasn't been sold yet.So am wondering will HDB deduct from our account for both flats?Many thanks for your advise! Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted April 18, 2007 I dun think you can successfully collect your keys if you still have your existing flat, right? They will do the appropriate checks when you are called for the collection of keys.HDB policy only can have one flat per person mah... Share this post Link to post Share on other sites
shmj 0 Report post Posted April 18, 2007 I dun think you can successfully collect your keys if you still have your existing flat, right? They will do the appropriate checks when you are called for the collection of keys.HDB policy only can have one flat per person mah...Can. They allow up to 6 mths for you to sell off yr old flat.Aft that, you can appeal for another 6mths.If by then still cannot, HDB will buy back the old flat from you. At 20% OFF the latest valuation report! Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted April 18, 2007 Can. They allow up to 6 mths for you to sell off yr old flat.Aft that, you can appeal for another 6mths.If by then still cannot, HDB will buy back the old flat from you. At 20% OFF the latest valuation report!OIC, so in that case they will definitely start deducting your CPF for the new flat also, they are not going to allow you to have the flat for free for one whole year.Think you gotta decide between the new flat and old flat liao lor... Share this post Link to post Share on other sites
shmj 0 Report post Posted April 18, 2007 OIC, so in that case they will definitely start deducting your CPF for the new flat also, they are not going to allow you to have the flat for free for one whole year.Think you gotta decide between the new flat and old flat liao lor...Jialat lor! I def want the new flat. So much nearer to town leh! But at the same time worried tt we'll hv to top up cash into CPF for the old flat's deduction....sianz....Tts why asking see if got anyone stuck in the same situation - can advise boh lor.... Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted April 18, 2007 Jialat lor! I def want the new flat. So much nearer to town leh! But at the same time worried tt we'll hv to top up cash into CPF for the old flat's deduction....sianz....Tts why asking see if got anyone stuck in the same situation - can advise boh lor....Huh what kind of advice u looking for? If you want the new flat, then quickly sell your old flat lor.Is it because of price thats why you can't sell off? Sometimes got to weigh the pros and cons; if you kept waiting for the "right" price to come, then risk losing your new flat or having to top up cash to pay for both flats, is it worthwhile?After you said about the grace period for selling the old flat, I suddenly remembered an ex-colleague was in the same situation. He was to pay for both the flats at the same time and topped up cash for the shortfall. Managed to sell the old flat quickly after four months, so quite ok... Share this post Link to post Share on other sites
dizzy 1 Report post Posted April 19, 2007 The situation we have here is we currently own a HDB flat.& the appt of my 2nd appt has been postponed to a later date as we couldn't managed to sell off the flat.If I were to get the keys on my 2nd appt, HDB will start deducting the installment right?Would I then be paying the installment for both my old flat & the new flat?'cos upon 2nd appt, HDB will deduct all the money in my dh & my acc. Then there will be nothing left...From our mthly salary contribution, we hv slightly more than what will be deducted from the mthly installment for the new flat.But def not enough if HDB is gonna deduct for the old flat that hasn't been sold yet.So am wondering will HDB deduct from our account for both flats?Many thanks for your advise!Yes. confirmed. We are currently doing that cos we are in between transactions. but what we did is to reduce the installment on the old flat (go to branch office to do that). So our cpf still enough but we found a buyer already Share this post Link to post Share on other sites
raincole 0 Report post Posted April 19, 2007 (edited) The situation we have here is we currently own a HDB flat.& the appt of my 2nd appt has been postponed to a later date as we couldn't managed to sell off the flat.If I were to get the keys on my 2nd appt, HDB will start deducting the installment right? Yes.Would I then be paying the installment for both my old flat & the new flat? Yes. 'cos upon 2nd appt, HDB will deduct all the money in my dh & my acc. Then there will be nothing left...From our mthly salary contribution, we hv slightly more than what will be deducted from the mthly installment for the new flat.But def not enough if HDB is gonna deduct for the old flat that hasn't been sold yet.So am wondering will HDB deduct from our account for both flats? Yes. So must paid the excess in cash. But dun worry, after the sale of your old flat, the sale proceed will be return to your cpf contribution. It is harder during the transition period only, after which, you will find yourselve with more cpfMany thanks for your advise! Edited April 19, 2007 by raincole Share this post Link to post Share on other sites
shmj 0 Report post Posted April 19, 2007 Thanks All!I finally managed to get HDB's customer service line.They said if I have a buyer for my old flat already, then can request that they stop deducting the installment for the old flat.But if no buyer, then hv to pay for both flats...So now, once we hv found a buyer, will request HDB to arrange for 2nd appt... Share this post Link to post Share on other sites
raincole 0 Report post Posted April 20, 2007 Thanks All!I finally managed to get HDB's customer service line.They said if I have a buyer for my old flat already, then can request that they stop deducting the installment for the old flat. But will it incur more interest? Cos loan amt not reduced. Ownership of the flat still under you until completion/handover date. But if no buyer, then hv to pay for both flats...So now, once we hv found a buyer, will request HDB to arrange for 2nd appt... Good luck. Must make sure the buyer wants to move in fast, some will like to delay for a few months to settle their own house or financial status. Share this post Link to post Share on other sites
shmj 0 Report post Posted April 21, 2007 Thanks Raincole for your advise!As luck wld hv it, a buyer just placed a deposit for our flat y'day!Woohoo! She'll apply for her bank loan soon.I'll wait abt 1 week or so then pester HDB to arrange for 2nd appt.... Finally!!! Share this post Link to post Share on other sites
kensanctuary 0 Report post Posted April 24, 2007 Sekali her bank loan not success leh ? hahahah *splash cold water on shmj head. Share this post Link to post Share on other sites
shmj 0 Report post Posted April 24, 2007 Sekali her bank loan not success leh ? hahahah *splash cold water on shmj head.*Picks up bucket & throw back @ kensanctuary*Choy, Choy, Choy!! Touch Wood!! Share this post Link to post Share on other sites
